Aster DM Healthcare Hits New 52-Week High on Pharmacy Expansion

By Malvika Gurung — Shares of the healthcare company Aster DM Healthcare (NS:) surged 5.83% to Rs 255 apiece at 2:25 pm and hit a fresh 52-week high of Rs 261 apiece in early trade on Tuesday.

The conglomerate healthcare stock jumped after the company announced opening its 200th pharmacy in India. The company said in a press release that its retail chain expanded from 1 to 200 in the country in only 18 months. 

The recently-launched 200th pharmacy is the 58th Aster Pharmacy in Kerala. The healthcare company currently operates only in Kerala, Karnataka and Telangana and will target other states in the upcoming years for expansion.

“We have been consistently witnessing a rising demand from different cities across India where people always look for trustable brands offering reasonably priced, easily available pharmaceutical goods,” said the company’s CEO Rama Krishna D.

The company will continue to add more pharmacies to its network of hospitals, labs, clinics and online consultation platforms, it stated.

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